Author: Staff Writer

Eskom announced today the resignation of Phillip Dukashe, Group Executive for Generation. Dukashe’s last day will be on 31 May 2022. In his resignation letter and discussions with Eskom executives, Dukashe cited the critical need to achieve balance for the benefit of his health, family and work responsibilities. Eskom said in a statement Dukashe leaves behind a competent team to ensure sustainability of the Generation Division. Rhulani Mathebula will act in the interim as the Group Executive for Generation while the recruitment process is initiated. Rhulani is a seasoned Power Station General Manager and had acted as Group Executive Generation…

The SA Reserve Bank (SARB) is likely to again increase its interest rates next week, say economists at the Bureau for Economic Research (BER). “Against the global backdrop of more rapid policy normalisation and, importantly, the associated recent sharp weakening of the rand exchange rate, and the sustained upside risks to domestic inflation, we now expect the SA Reserve Bank (SARB) to hike the repo rate by 50bps next week,” says BER. “This is a change from the previous view for a 25bps hike at the May policy meeting. The SARB’s decision is unlikely to be unanimous.” The key question…

Gold bullion, in the form of standardised gold bars and coins, has proven its value as an investment over thousands of years appreciating on average 13.5% year on year. Traditional gold jewellery set with precious stones, on the other hand, is usually crafted from 9 or 18-karat gold and loses 80 – 90% of its value on resale and which tarnishes over time due to worthless diluting metals. Gold startup, Nebü Gold is the first African jeweller to give bullion investors the option of wearing elegant 24-karat investment-grade jewellery instead. It’s a winning idea because Nebü Gold which started just…

inq., a Convergence Partner’s company, is set to acquire Syrex, a provider of hyperconverged cloud technology solutions in South Africa. The strategic acquisition bolsters an already robust business offering from Syrex to provide innovative, reliable, and industry-leading solutions to the South African market. inq. a leading Edge computing company has today announced that it has reached an agreement to acquire Syrex for an undisclosed amount. The agreement is subject to customary conditions including approvals by the Competition Authority of South Africa and the Independent Communications Authority of South Africa (ICASA). Syrex is a hyperconverged solutions provider that delivers the full…

SA’s Voucher System, mybux, has seen its growth reaching new heights while adding more countries to its system. Founded in Cape Town,  mybux is currently operating in over 14 African countries including Kenya, Nigeria, Ghana, Rwanda, South Africa, and more, the company has been experiencing a steady monthly growth of 25% and processing over 20 million vouchers a month. As it continues to grow, by the end of 2022, mybux is anticipated to process double the amount. Today, it processes on average between six to ten transactions a second, 24 hours a day, and services the biggest sports betting platforms…

In a little over a year since its launch, Africa’s fastest-growing video-on-demand streaming platform Wi-flix has passed the 1 million-plus paid subscriptions and 300 000 plus customer milestone. The online streaming platform has grown quickly in recent months with more content and distribution partnerships and more titles being added to its library resulting in major customer attraction. To celebrate this milestone, Wi-flix is offering the first 1000 customers to use the code WIFLIX1MILLION, a FREE access for 48 hours to binge all their favourite movies, series, kids content and live tv shows. Co-Founder and Chief Commercial and Technology Officer at…

Rand Merchant Bank (RMB), the corporate and investment banking business of FirstRand Limited, today announced that Emrie Brown has been appointed chief executive effective 1 October 2022. Brown will take over from current chief executive, James Formby, who will hand over the role after seven years as RMB CEO. Said current RMB CEO, James Formby: “I am delighted to be able to pass the baton to someone of Emrie’s talent and experience. The time is right to hand over and I have the right person to hand over to.” Brown began her career with RMB in 2001 as a transactor and…

Vodacom’s pledge to halve its environmental impact by 2025 is well underway with a target set to accelerate the reduction of greenhouse-gas (GHG) emissions. Within the next three years, Vodacom aims to diversify its energy mix which includes buying electricity needed for its operations from 100% renewable-energy sources. This target will have a huge impact on Vodacom’s pledge, as electricity consumption is the primary source of the TechCo’s GHG emissions. Furthermore, by actioning this target, Vodacom will contribute nationally to a transition to a low carbon economy thereby helping government achieve its Paris Agreement goal, which requires countries to cut…

The Shoprite Group is fighting food waste by adopting various technologies, such as artificial intelligence (AI) and machine learning (ML). South Africa wastes up to 10.3 million tons of food each year – and this is a problem the Shoprite Group is tackling from multiple angles. Food waste is not just a front to the hungry in a country where 2.5 million people experience hunger weekly. It also has significant environmental and economic implications. Food is wasted across the supply chain, from farm to fork. It is a complex issue, which is why Africa’s largest food retailer has adopted systematic and comprehensive…

Fairvest has been approved for a secondary listing on A2X Markets and will be available to trade on A2X Markets from 11 May 2022. This follows the merger of Arrowhead Properties Limited and Fairvest Property Holdings, creating the largest SA-focused REIT. Fairvest will retain its listing on the Johannesburg Stock Exchange and its issued share capital will be unaffected by its listing on A2X. Both A ordinary shares and B ordinary shares will be available for trade on A2X. Fairvest Property Holdings Limited and Arrowhead Properties Limited merged on 31 January 2022 setting the stage for the creation of a mid-sized…